Vinci plans to use its 拢74m acquisition of Taylor Woodrow to become a major player in the UK nuclear market, according to John Stanion, the company鈥檚 chief executive, writes Tom Bill.
The deal, announced two weeks ago, bolsters Vinci鈥檚 support services and infrastructure operations, and will also boost its 拢30m nuclear operation.
Stanion said: 鈥淭aylor Woodrow has excellent references in the nuclear sector and we intend to develop a significant presence in the market including decommissioning and the construction of new stations.鈥�
Earlier this week, John Hutton, the business and enterprise secretary, said building nuclear power stations was vital to guarantee energy supplies.
French company EDF this week pledged to build four new UK reactors after its 拢12.5bn purchase of British Energy.
We intend to develop a significant presence in the nuclear market
John Stanion, Vinci
Stanion also said:鈥淭he deal gives us a more significant presence in facilities management, where we wish to build up a substantial level of activity.鈥�
He singled out rail and airports as two other markets that had 鈥渆normous potential鈥�, and said he was 鈥渄elighted鈥� to enter the 拢45bn 黑洞社区 Schools for the Future market for the first time through Taywood鈥檚 involvement on a 拢320m deal with Sheffield council.
Meanwhile it has emerged that two big-name contractors had been running the rule over Taywood in the weeks leading up to the Vinci announcement. One source close to the process said: 鈥淭aylor Wimpey sent out the paperwork at the end of July and Laing O鈥橰ourke was also having a close look.鈥� Another source said Costain was also in the frame.
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